Consider: By 2028, women will control 75% of the world's discretionary spending.
Grrrl-power has been busily morphing into serious economic power - everywhere. In China since 1980, women have more than doubled what they contribute to household income; in 2014, their average contribution hit 50%. In developing nations, men have seen their earned income grow at a rate of 5.8% compared to women's earned income growth of 8.1%. And in the US, predictions estimate that by 2028, American women will collectively out-earn the men. "As more women hit the affluent, high-net-worth and ultra-high-net-worth brackets, luxury brands that traditionally have catered to men will have to find new voices, products and approaches to speak to a growing category of sophisticated, affluent women," notes The Future 100: Trends & Change to Watch in 2015 by JWTIntelligence. "As a given, not a bonus, brands are expected to deliver experiences, be hyper-transparent and achieve sustainability," adds Lucie Green, Worldwide Director of JWTIntelligence. "They’re expected to produce beautifully designed products and environments. And they are also increasingly expected to be societal leaders, benefactors, innovators and philanthropists."
- Lesley Scott
NOTE: This post was about the Supremium fashion tribe - spendy, style-conscious fashionistas that enjoy jetsetting, globetrotting and shopping their way across the globe. For more of my posts about this tribe, CLICK HERE. To learn more about each of fashion's four mega-tribes that I track, START HERE.
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